Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Court: income tax appellate tribunal itat allahabad Page 1 of about 25 results (0.646 seconds)

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... 1991, the counsel for the asscssce stated that it would lead to inference that interest on securities was now included within the meaning of interest as defined in section 2(7) of the finance act, 1991. it was submitted that (a) deletion of exclusion of interest on securities would not operate to include the same within the purview of interest unless it is ..... by the hon'ble supreme court in the following eases :(sc), alladi venkateswarlu v. govt. of andhra pradesh [1978] 41 stc 394, 398 (sc).11.7 in view of above discussion, the fact remains that the provisions of section 2(7) of the act, as they stood at the relevant time, are coucbed in a language which is not free from ambiguity and .....

income-tax Officer Vs. R.T. Lawrence

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1986)15ITD490(All.)

..... he was called upon to bear by reason of his posting at a particular place and that it was exempt under section 10(74).16. the counsel pointed out that subsequently an explanation to the above section was inserted by the finance act, 1975, with retrospective effect from 1-4-1962. this explanation reads as under : explanation : for the removal of ..... notice. we are, therefore, bound by that decision in view of the principle laid down by the bombay high court in the case of cit v. smt.godavaridevi saraf [1978] 113 itr 589. as held by the commissioner (appeals) the facts of the present cases are almost similar to the facts of the gujarat high court case. in ..... for the consideration of the ito in these appeals was regarding the taxability of salary payable to the above employees.this question is relevant only for the assessment year 1978-79.subsequently, the agreement dated 23-3-1976 was terminated vide a new agreement dated 27-12-1977. the termination took place with effect from 31-7-1977. .....

Subhra Motel (P.) Ltd. Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1998)64ITD134(All.)

..... have been brought on statute for effective discharge of liability. on comparison of two provisos inserted by finance act, 1987 in respect of clause (a) and finance act, 1989 in regard to clause (b) of section 43b of the act, it would be clear that the conditions for payment in respect of clause (b) are more restrictive. for ready reference ..... the proviso as introduced are quoted below :- provided that nothing contained in this section shall apply in relation to any ..... officer rejected the claim and split the receipts into two parts. the high court held that the entire receipts were assessable as income from property under section 9 of the act. it was held by the hon'ble supreme court that "the services rendered by the assessee to its tenants were the result of its activities .....

income-tax Officer Vs. Gauri Shankar Dalal

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1983)5ITD340(All.)

..... in support of his submission, the learned representative for the department invited our attention to explanation 2 to section 64(2) which was inserted with effect from 1-4-1980 by the finance act, 1979. the said explanation states that 'for the purposes of this section, 'income' includes 'loss'. the learned representative for the department, therefore, submitted that since we are ..... the other hand, supported the order of the aac by stating that the loss is nothing but a negative income. according to him the amendment made by the finance act was by way of clarification only.7. we have considered the rival submissions of the parties and we find considerable force in the stand taken on behalf of ..... the ito included half share of the huf in the said three firms in the total income of the assessee by invoking the provisions of section 64(2) of the income-tax act, 1961 ('the act')- similarly, in respect of the assessment years 1974-75 and 1975-76, the ito included half share of the huf in the said .....

Vishwanath Prasad Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2003)86ITD516(All.)

..... any search has been conducted under section 132 of the income-tax act or books of account other documents or assets are requisitioned under ..... chapter xiv-b of the income-tax act. before proceeding to decide the merits of the appeal, we feel it appropriate to decide the above preliminary issue first.12. chapter xiv-b inserted by finance act, 1995 w.e.f. 1st july, 1995 provides special procedure for assessments in search cases. section 158bc of the income-tax act provides special procedure for block assessment. where .....

Assistant Commissioner of Income Vs. U. P. National Mfg Ltd. (Asstt. C ...

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... out from the records before us, which, are, in the following terms : as a result of newly inserted provisions of s. 194h of the it act, 1961 (hereinafter called as "the act"), as a result of finance act, 1991, which received the assent of the president of india on 27th september, 1991, all these respondents were under an obligation to deduct and pay ..... granted by the statute on 4th november, 1991, itself as against the fact that provisions of s. 194h were introduced w.e.f. 1st october, 1991, by the finance (no. 2) act, 1991, bill for which was introduced in the parliament on 24th july, 1991, and assent of the president of india was accorded on 27th september, 1991; it is ..... assessee may be exculpated under the law. the company and its directors wanted to give an exemption for itself to the general provisions of law as introduced by the finance (no. 2) act, 1991, w.e.f. 1st october, 1991, which provides for tds in respect of payment of commission to the various parties w.e.f. 1st october, .....

Wealth-tax Officer Vs. S. Inder Singh

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1987)20ITD544(All.)

..... in a voluntary disclosure, the statement was accepted without enquiry or satisfaction that disclosed amount represented income of the assessee and, therefore, the certificate granted by section 215 of the finance act, 1965, would not preclude an examination of the explanation, although such declaration may be admissible piece of evidence, but not conclusive. this is the view ..... the revenue is that the commissioner (appeals) went wrong in cancelling the order passed under section 35 of the wealth-tax act, 1957 ('the act') by the wto.3. in his order under section 35, the wto mentioned for the assessment year 1978-79 that the original assessment was made on the net wealth of rs. 23,80, ..... spent away, but was available with the assessee till the assessment year 1982-83, which means that the same amount was still available as on 31-3-1978 being the valuation date for the year under consideration. he, therefore, concluded that the said mistake of non-inclusion of the above sum was a mistake apparent .....

New Light Tannery Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1982)1ITD733(All.)

..... destination outside india or on the insurance of such goods, while in transit *where such expenditure is incurred before the 1st day of april 1978." ""(inserted by the finance act, 1978 with effect from 1-4-1978) in our opinion, the word "such" appearing at the end of the clause refers to expenditure incurred wholly and exclusively on distribution, supply ..... supply or provision outside india of such goods in which the appellant is dealing and under the amended law any such expenditure after 1-4-1978, is not to be allowed for relief under section 35b. shri agarwal has contended that these items are covered under sub-clause (viii) as the contracts entered into were c.i.f. ..... covered under sub-clause (iii). the appellant's claim in this regard is, therefore, rejected. 5. however, i find that the appellant is entitled to relief under section 35b on bank commission of rs. 3,400 and miscellaneous expenditure of rs. 1,215 being expenditure on samples. these would be covered under sub-clause (v) and .....

Gorakhpur Petro Oils Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2005)95TTJ(All.)489

..... in the case of stellar investment ltd. as decided by the hon'ble delhi high court at p. 105 of 205 itr (in case of sophia finance ltd.) "section 68 of the act was not referred to and the observations in the said judgment cannot mean that ito cannot or should not go into the question whether the alleged shareholders actually ..... came to the conclusion on the facts and no interference is called for.20.1 in the case of cit v. sophia finance ltd. (supra) again, the cit filed a petition under section 256(2) of the it act which was referred to the full bench because correctness of the observations in the judgment of the division bench of the delhi ..... investments ltd. (supra) has not overruled the decision of the full bench of the delhi high court in case of sophia finance ltd. (supra) and therefore, the ao was quite justified in making enquiries under section 68 of the act. he further submitted that if on investigation, the 'share capital' or the 'share application money' or the 'cash credits' .....

Dr. A.K. Bansal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2000)73ITD49(All.)

..... to the objectives of introducing chapter xiv-b, which can be gainfully used as an aid to interpretation.3.1 chapter xiv-b of the act was brought on the statute book by the finance act, 1995 with effect from the 1st july, 1995. it provides for a special procedure for assessment of search cases. with a view to finding ..... under laws and equity; and 22.6 in this writ petition, the petitioner had made the following authorities as the respondents : 1. central board of direct taxes, ministry of finance, north block, new delhi. 2. director general of income-tax, aayakar bhawan, lucknow, uttar pradesh.22.7 the respondent no. 4 was the assessing officer also and had ..... ltd.'s case (supra) and dwijendra lal brahmachari v. new central jute mills co. ltd. [1978] 112 itr 568, to the effect that the powers vested by section 131 of the act in an assessing officer are to be exercised "for the purposes of this act" interpreted to mean "for the purposes of assessment", in my opinion would also not matter much .....